E Fund Management Co. Ltd. Lowers Stake in Mettler-Toledo International Inc. (NYSE:MTD)

E Fund Management Co. Ltd. decreased its position in Mettler-Toledo International Inc. (NYSE:MTD) by 10.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 151 shares of the medical instruments supplier’s stock after selling 18 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Mettler-Toledo International were worth $211,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Capital International Investors raised its holdings in shares of Mettler-Toledo International by 15.1% in the 1st quarter. Capital International Investors now owns 1,075,420 shares of the medical instruments supplier’s stock valued at $1,431,696,000 after buying an additional 141,431 shares during the period. Bank of New York Mellon Corp grew its position in Mettler-Toledo International by 169.4% in the 1st quarter. Bank of New York Mellon Corp now owns 573,702 shares of the medical instruments supplier’s stock valued at $763,764,000 after acquiring an additional 360,786 shares in the last quarter. PineStone Asset Management Inc. increased its stake in Mettler-Toledo International by 127.4% during the second quarter. PineStone Asset Management Inc. now owns 259,629 shares of the medical instruments supplier’s stock worth $362,855,000 after purchasing an additional 145,453 shares during the period. Principal Financial Group Inc. lifted its position in shares of Mettler-Toledo International by 2.8% during the first quarter. Principal Financial Group Inc. now owns 248,007 shares of the medical instruments supplier’s stock worth $330,169,000 after purchasing an additional 6,788 shares in the last quarter. Finally, TD Asset Management Inc lifted its position in shares of Mettler-Toledo International by 1.9% during the second quarter. TD Asset Management Inc now owns 157,247 shares of the medical instruments supplier’s stock worth $219,767,000 after purchasing an additional 2,866 shares in the last quarter. 95.07% of the stock is currently owned by institutional investors and hedge funds.

Mettler-Toledo International Trading Up 2.9 %

Shares of NYSE:MTD opened at $1,443.03 on Friday. The firm has a 50 day simple moving average of $1,407.70 and a 200-day simple moving average of $1,374.32. Mettler-Toledo International Inc. has a twelve month low of $928.49 and a twelve month high of $1,546.93. The company has a market capitalization of $30.82 billion, a PE ratio of 40.47, a P/E/G ratio of 3.70 and a beta of 1.14.

Mettler-Toledo International (NYSE:MTD) last announced its quarterly earnings results on Thursday, August 1st. The medical instruments supplier reported $9.65 earnings per share for the quarter, beating analysts’ consensus estimates of $9.00 by $0.65. The firm had revenue of $946.75 million during the quarter, compared to analysts’ expectations of $929.13 million. Mettler-Toledo International had a net margin of 20.95% and a negative return on equity of 575.61%. Mettler-Toledo International’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the company earned $10.19 earnings per share. As a group, equities research analysts predict that Mettler-Toledo International Inc. will post 40.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MTD has been the topic of a number of research reports. Evercore ISI increased their target price on shares of Mettler-Toledo International from $1,375.00 to $1,390.00 and gave the stock an “in-line” rating in a report on Tuesday, July 2nd. Stifel Nicolaus upped their price target on Mettler-Toledo International from $1,510.00 to $1,550.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Jefferies Financial Group reiterated an “underperform” rating and issued a $1,250.00 price objective (up previously from $1,230.00) on shares of Mettler-Toledo International in a research note on Monday, June 3rd. The Goldman Sachs Group upped their target price on shares of Mettler-Toledo International from $1,150.00 to $1,300.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 9th. Finally, StockNews.com upgraded shares of Mettler-Toledo International from a “hold” rating to a “buy” rating in a research note on Thursday, July 11th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Mettler-Toledo International has a consensus rating of “Hold” and an average price target of $1,356.25.

Insider Buying and Selling

In other Mettler-Toledo International news, insider Christian Magloth sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $1,422.97, for a total value of $1,422,970.00. Following the completion of the sale, the insider now owns 734 shares in the company, valued at $1,044,459.98. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, insider Christian Magloth sold 1,000 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $1,422.97, for a total value of $1,422,970.00. Following the completion of the sale, the insider now owns 734 shares in the company, valued at approximately $1,044,459.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Shawn Vadala sold 250 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $1,401.00, for a total transaction of $350,250.00. Following the transaction, the chief financial officer now directly owns 4,914 shares in the company, valued at $6,884,514. The disclosure for this sale can be found here. 1.94% of the stock is currently owned by company insiders.

About Mettler-Toledo International

Mettler-Toledo International Inc manufactures and supplies precision instruments and services in the Americas, Europe, Asia, and internationally. It operates through five segments: U.S. Operations, Swiss Operations, Western European Operations, Chinese Operations, and Other. The company's laboratory instruments include laboratory balances, liquid pipetting solutions, automated laboratory reactors, real-time analytics, titrators, pH meters, process analytics sensors and analyzer technologies, physical value analyzers, density and refractometry, thermal analysis systems, and other analytical instruments; and LabX, a laboratory software platform to manage and analyze data generated from its instruments.Its industrial instruments comprise industrial weighing instruments and related terminals, automatic dimensional measurement and data capture solutions, vehicle scale systems, industrial software, metal detection equipment, x-ray systems, check weighing equipment, camera-based imaging equipment, track-and-trace solutions, and product inspection systems.